Credit quality

A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Chicago will host its annual investor conference on Thursday as Mayor Brandon Johnson's administration faces challenges including a $1.12 billion deficit.

Fitch Ratings ranks the credit as AA, up from AA-minus.

Geography is playing a role in financial health as debt issuance rises.

Moody's has lifted the credit ratings on five special tax bonds.

The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.

John Hallacy of John Hallacy Consulting and Rich Ciccarone, president emeritus of Merritt Research Services, talk with Chip Barnett about the municipal bond business over the past 40 years. They take a look back at where the industry has been, where it is and where it will be going.

With economic uncertainty ahead and the Federal Reserve potentially shifting to interest-rate cuts, analysts should take a closer look at individual issuers' financial disclosures.

The current property insurance crisis in several states may dramatically shorten the climate risk horizon for municipal investors. The municipal market's relaxed attitude toward climate risk may be seriously challenged in the years ahead.

Teacher shortages and enrollment declines due to growing charter and private schools are two of the problems affecting school financing.

"Dave has always worked hard, maintained the highest analytic integrity and role modeled independent thought," said Eden Perry, S&P head of U.S public finance. "He will be missed."

While some sectors have fared better than others, those requiring construction struggle as costs rise.

Enrollment and inflation-adjusted net tuition trends are negative.

The departure of Maryland's second-longest serving state treasurer will leave a void in the public finance community.

“Chandra has built a reputation as an innovator at Moody’s,” said Tim Blake, managing director of public finance.

Experts explore the tangible and intangible costs of cyber breaches and potential risk mitigation strategies.

The changes could affect up to 20% of the 3,000 districts that Moody’s rates by one notch.

The policy case for federal support is strong: in the coronavirus era, the U.S. is looking at an emergency that is the equivalent of 50 states worth of hurricanes, fires and floods, lasting more than two years, with a very slow economic rebound.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

A big New York State Empire Development Corp. private placement is likely to be followed by more until the municipal primary starts functioning again.